Nairobi, Feb. 14 -- Kenya will put up for sale one of its two remaining State-owned banks. This is after the Cabinet approved the privatisation of the Development Bank of Kenya (DBK).

The Cabinet Secretary for the National Treasury is now expected to gazette the privatisation programme, setting the stage for another acquisition in the banking sector.

Besides, DBK where the State has a 83.9 percent stake, the other State-owned lender is Consolidated Bank of Kenya, where the State has 50.2 percent shareholding.

The Cabinet noted that DBK, which had for long relied on State guarantee while operating as a development finance institution (DFI), was ready to stand on its own as a deposit-taking commercial bank.

"As part of the Administratio...